LEGISLATURE

A'IBOM  SET TO REVOLUTIONISE POWER SECTOR WIT NEW REGULATORY BOARD 

Committee chairman, Rt. Hon. Udoh 

By Julius Nsikak 

The Akwa Ibom State House of Assembly has recently  held a public hearing on a bill to establish an Electricity Regulatory Board.

 The Speaker, Rt. Hon Udeme Otong, stated that the bill aims to revolutionise the living  of residents by maximising electricity availability.

Represented by the Deputy Speaker, Rt Hon Kufreabasi Edidem, Otong emphasised that the bill seeks to foster rapid growth in power generation capacity and revamp the utilisation of generated power through increased investment in new and efficient power generation technologies.

Otong, described electricity as a socio-economic game changer and a key to urbanisation, noting that it can transform villages into cities and micro-industrial hubs. 

He urged key power sector players and stakeholders to prioritise the task of revamping the power sector and prove themselves as patriots in the Akwa Ibom dream of a desirable destination.

Earlier, the Chairman of the Committee on Rural Development, Power, Water and Public Utilities, Rt. Hon Asuquo Udo, remarked that the meeting was convened to grant stakeholders the opportunity to participate and share ideas on the "The Bill For A Law To Make Provision For Electricity Generation, Transmission And Distribution Within And For The Residents Of Akwa Ibom State: To Establish Akwa Ibom Electricity Regulatory Board And For Other Matters Connected Therewith".

 He explained that the enactment of the bill is critical to fulfilling one of the core obligations of the eighth assembly.

Udo noted that the bill seeks to promote policy reforms and regulatory measures to ensure the expansion of efficient power generation and transmission towards the development of a competitive electricity market. 

The Ikono lawmaker, added that the bill aims to stimulate policies that will attract investment across the state electricity value chain to re-energise economic growth, drive job creation, and improve the living standards of residents in Akwa Ibom State.

The Commissioner for Power, Engr. Camilus Umoh, noted that power is a salient tool for development, stating that there should be a concentrated review of the bill to engender the best outcome.

 He praised the state legislature for its unwavering support and strides to revamp the power sector of the state.

Highlighting the state's electricity policy, the commissioner tasked committee members and other legislators to remain stable and uniformed in a bid to ensure equality, whilst calling on other power sector key players to collaborate with lawmakers to achieve their slated goals. 

He emphasised the need for a unified approach to ensure that the power sector is developed in a fair and equitable manner.

In his presentation, the Managing Director and Chief Executive Officer of Ibom Power Plant Company, Engr. Meyen Etukudo, stated that the company had not received any funding from the state government since he assumed office on 1st August 2016.

 Engr. Etukudo revealed that he was appointed by the former governor of Akwa Ibom State, Mr Udom Emmanuel, as the head of Ibom Power Company Limited.

He disclosed that the company faced significant technical, administrative, and commercial challenges, which had previously rendered it moribund.

 According to him, the company inherited a substantial debt burden of N10.48 billion in 2016, owed to Access Bank, Diamond Bank, and Afrexim Bank. Additionally, the company owed various contractors and faced 33 court cases in different courts, as well as a backlog of debts to Accugas for gas supply.

However, Engr. Etukudo stated that despite these challenges, his team had made significant progress.

 They had maintained facilities, fully repaid the Access Bank loan, negotiated and partially paid off the Diamond Bank and Afrexim Bank loans, and reduced the number of pending court cases from 33 to six.

He advocated for provisions in the electricity sales and trading bill to provide a legal regulatory policy framework for profitability, while urged the assembly members to conduct an on-site visit to the Ibom Power Company to assess the situation firsthand.

Furthermore, an energy researcher at Cambridge University, United Kingdom, Ekemini Umoh, during her presentation advocated for energy equity to protect individuals in the state. 

She stated that there is no need to limit power to a certain group, chiding against categorising energy access.

 Her words, "To support future power networks that will engage digitalisation, ensure synergy and satisfaction, limits should not be placed on power supply. 

The people who need power do not have access, but those affording the power are not making use of it."

Engr. Umoh, discussed energy poverty, adding that the bill aims to grow the power economy and provide access to electricity for all citizens.

 She also highlighted the need for a comprehensive approach to address the challenges facing the power sector.

Meanwhile, the public hearing was attended by members of the committee; chairman, Nigeria Labour Congress, Akwa Ibom State Chapter, Mr Sunday James; Representative from Civil Society Forum, Mr Harry Udo; Representative from Centre for Human Right and Accountability Network, Mr Franklin Isong; Representative from Port Harcourt Electricity Distribution, Mr Ugochukwu Okpara, and many others.

 The attendees engaged in a robust discussion on the bill and its implications for the power sector in the state.